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Despite glimmers of profit, most African neobanks remain in the red
It was only just over a year ago that McKinsey described Africa’s financial technology landscape as a “hotbed for investment.” Fast-forward to today and startups on the continent are facing many of the same problems plaguing fintechs in more mature markets like the U.K. and the U.S.: Valuations are tanking,…
South African digital banking platform TymeBank has raised $77.8 million in a pre-Series C round led by African-focused growth-stage fund Norrsken22 and Swiss global impact investment firm Blue Earth Capital.…
Anglophone East Africa is home to over 400 million people, with half under 25. The region happens to be one of the fastest-growing globally; nevertheless, over 200 million people in…
Last year was record-breaking for African startups. I know I’m probably starting to sound like a broken record, but the astronomical growth is worth highlighting again and again. In this…
The digital banking space in Africa is taking shape as neobanks on the continent grow in numbers like their global counterparts. Venture capital bets from institutional investors in this class…
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African tech took center stage in 2021
Two years ago, the African tech ecosystem saw newfound attention from global players that translated to the continent’s best year of receiving venture capital. From varying sources, it is estimated up to $2 billion went into African tech startups in 2019. With high-profile visits from the most famous Jacks (Ma…
More than 70% of Egypt’s young and fast-growing population of over 100 million is financially underserved, despite mobile penetration exceeding 90%. Traditional banks often overlook this segment because of their…
Fintech in Africa is a goldmine. Investors are betting big on startups offering a plethora of services from payments and lending to neobanks, remittances and cross-border transfers, and rightfully so. Each…
Investments in African startups keep growing at a healthy pace ever since reports started keeping count in 2015. That year, publications Disrupt Africa and Partech released independently researched and contrasting…
Tech investments in emerging markets have been in full swing over the past couple of years and their ecosystems have thrived as a result. Some of these markets like Africa,…
